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Tesla, inc. Marketing plan
1.
TESLA, INC.1
T
Marketing Plan
Yekaterina Schiller
Valery
Columbia Southern University,
2021
2.
2About Tesla,
Inc.
LEADERSHIP: Elon Musk, CEO
TESLA, INC.
HEADQUARTERS: Palo Alto, CA (Roth, 2021)
SEGMENTS: automotive + energy generation
& storage (Tesla, Inc., 2020)
REVENUE: $24.6 billion in 2019 (Roth, 2021)
MISSION STATEMENT: To accelerate the
T
world’s transition to sustainable energy (Tesla,
Inc., 2021).
Du Preez,
(2020)
FOUNDED: 2003
3.
3T
STRENGTHS
WEAKNESSES
• Recognized & desired
brand
• High-priced products
• Low production volumes
• Unique brand positioning
• Innovative proprietary
technologies
• While expanding, still
limited vehicle service &
dealer networks
Tchompalov,
(2019)
TESLA, INC.
SWOT Analysis
4.
4T
OPPORTUNITIES
THREATS
• Environmentalism &
demand for fuelalternative vehicles
• Perception about EVs
safety, quality,
performance & cost
• Technological
developments
• Government regulations
and economic conditions
• New market segments
• Information security
breaches & cyber-attacks
(Tesla, Inc., 2020).
Ramsey (2020 a)
TESLA, INC.
SWOT Analysis
5.
5COMPETITIVE ANALYSIS
Founded in
TESLA, INC.
Industry
FORD MOTORS
GENERAL
MOTORS
TOYOTA MOTORS
2003
1903
1908
1937
Automotive, HEV& Automotive, HEV&
EV manufacturing
EV manufacturing EV manufacturing
Automotive, race,
HEV & EV
manufacturing
HEV & EV
Market Share
15.7%
18.8%
3.9%
11%
Brands
Tesla
Ford, Lincoln &
Mercury
Buick, Cadillac,
Chevrolet & GMC
Toyota & Lexus
Innovation
Lithium-ion
battery, autopilot,
panoramic
windshield,
infotainment
software, etc.
EcoBoost engine
Not evident
Early hybrid
innovations
Industryrelevant
revenue
$2.3 billion
$3.3 billion
$683.3
million
$1.8 billion
Roth
(2021)
T
TESLA, INC.
6.
6MARKETING STRATEGY
PRODUCTS & SERVICES
AUTOMOTIVE
Model 3, Model Y, Model S, Model X
ENERGY STORAGE
Powerwall
TESLA, INC.
Powerpack & Megapack
SOLAR ENERGY
Solar energy systems
Solar Roof
SERVICES
T
Warranty & Service Plans
Financing & Leases
Ramsey (2020 b)
Insurance (Tesla, Inc., 2020).
7.
7MARKETING
STRATEGY
PRICE
Market entry pricing strategy:
TESLA, INC.
Premium
Skimming
Current pricing strategy:
Affordable Luxury
T
Affordable (mainstream market)
Geographical
Meyer
8.
8MARKETING
STRATEGY
TESLA, INC.
PLACE
GEOGRAPHIC
ENERGY STORAGE & SOLAR
North America, Europe & Asia
ENERGY
Tesla website, stores & galleries
Internationally via network of channel
AUTOMOTIVE
partners & sales organizations
Global network of company-
SERVICES
owned stores & galleries
T
Tesla’s website
Tech: Company-owned service locations
Charging: partnerships with public and
businesses spaces
9.
9MARKETING STRATEGY
PROMOTION
DIGITAL
WOM
TESLA, INC.
Tesla’s website
Social Media
T
TRADITIONAL
WOM
Trade-in program / Sales promotion
Referral programs
Events & experiences
Public relations
Ferrari Careto
Publicity (Tesla, Inc., 2020)
10.
10PRODUCT
TESLA, INC.
PRICE
T
PLACE
PROMOTION
Van Kessel
(2020)
COMPETITIVE
ADVANTAGE
11.
11ENVIRONMENTAL IMPACT
TESLA, INC.
PRODUCT IMPACT
SUPPLY CHAIN
EMPLOYEES & CULTURE
T
CORPORATE SOCIAL
RESPONSIBILITY
Bradford,
12.
12Corporate Social Responsibility
TESLA, INC.
T
Create sustainable energy &
transport products
Reduce carbon footprint at
factories
Increase utilization of
batteries & vehicles
Reduce air pollution
Improve wastewater &
stormwater management
(Tesla, Inc., 2019).
PRODUCT
Make available & affordable
for all
Provide urban and remote
communities with reliable
& affordable energy
Disaster relief (Tesla, Inc.,
2019).
Tesla, Inc. (2019)
ENVIRONMENTAL
13.
13Corporate Social Responsibility
TESLA, INC.
T
Source responsibly produced
materials
Create safe & humane
working conditions
Require social,
environmental, and
sustainability practices from
partners (Tesla, Inc., 2019).
Build safe, fair & inclusive
organizational culture
Reduce risk of injury &
ensure employee safety
Community engagement
(Tesla, Inc., 2019).
Tesla, Inc. (2019)
SUPPLY CHAIN
EMPLOYEES &
CULTURE
14.
14CONCLUSION & RECOMMENDATIONS
PRODUCTS & SERVICES
Innovate & improve existing technologies
Develop products for new consumer segments
Extend insurance services
PRICE
TESLA, INC.
Innovate to reduce the price of some products
Increase production volume to justify lower prices
PLACE
Increase number of stores & service locations domestically & internationally
Establish manufacturing & sales operations in developing economies
PROMOTION
T
Allocate budget for traditional advertising
15.
15References
Bradford, C. (2019). [Photo] Unsplash. https://unsplash.com/photos/OPREHZXKmoE
Du Preez, P. (2020). [Photo]. Unsplash. https://unsplash.com/photos/SGmNYkx4NMY
Ferrari Careto, Z. (2021). [Photo]. Unsplash. https://unsplash.com/photos/syWwV9Xw0jI
Fisher, M., McCabe, M. B. (2019). Tesla: Accelerating to Market. Journal of Strategic Management
Education,
15, 1– 14. Retrieved from https://search-ebscohost
com.libraryresources.columbiasouthern.edu/login.aspx?
direct=true&db=bsu&AN=142462745&site=eds- live&scope=site
TESLA, INC.
Kotler, P., Keller, K. L. (2016). Marketing management (15th ed.). Pearson.
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Mangram, M. (2012). The globalization of Tesla Motors: a strategic marketing plan analysis.
Journal of Strategic Marketing, 20(4), 289–312. https://doiorg.libraryresources.columbiasouthern.edu/10.1080/0965254X.2012.657224
Meyer, M. (2018). [Photo]. Unsplash. https://unsplash.com/photos/yLX9TxWeXgw
Musk, E. (2006). The Secret Tesla Motors Master Plan. Retrieved from https://www.tesla.com/blog/
secret-tesla- motors-master-plan-just-between-you-and-me?redirect=no
Owusu, A. J. K., Ukhova, A. I. (2020). Effect of Coronavirus (COVID-19) Pandemic on Marketing Mix
(4Ps). Bulletin
of the South Ural State University. Series: Economics & Management, 14(3),
180–187. https://doi- org.libraryresources.columbiasouthern.edu/10.14529/em200319
16.
16References
Pant, P. (2019). SWOT Analysis: A Powerful Tool of Strategic Competitive Management
Effectiveness. Adhyayan: A
Journal of Management Sciences, 9(2), 31–37. https://doiorg.libraryresources.columbiasouthern.edu/10.21567/adhyayan.v9i2.6
Ramsey, A. (2020 a). [Photo]. Unsplash. https://unsplash.com/photos/9X3DmoEM64k
TESLA, INC.
Ramsey, A. (2020 b). [Photo]. Unsplash. https://unsplash.com/photos/U-DgtDG6MRo
Roth, R. (2021). Hybrid & Electric Vehicle Manufacturing. Retrieved from IBISWorld
database.
Tchompalov, V. (2019). [Photo]. Unsplash. https://unsplash.com/photos/jwyO3NhPZKQ
Tesla, Inc. (2021). About Tesla. Retrieved from https://www.tesla.com/about
Tesla, Inc. (2020). Form 10-K 2020. Retrieved from Mergent Online database.
Tesla, Inc. (2019). Impact Report. Retrieved from https://www.tesla.com/ns_videos/2019tesla-impact-report.pdf
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Valery, JP. (2018). [Photo]. Unsplash. https://unsplash.com/photos/Qm_n6aoYzDs
Van Kessel, T. (2020). [Photo]. Unsplash. https://unsplash.com/photos/c_VBhiC_EpQ